Bought out phone lease for a song

[14Accent]

I leased my Essential PH-1 from Sprint in December of '17 on an 18 month term due to the amazing deal they had at the time: $29.17 a month with 18 $23.17/mo bill credits. This is for a phone that retailed at $750.

At the end of the lease, Sprint allows you to buy out the lease for the "fair market value" of the device, which of course they calculate. Luckily for me, I have an extremely obscure phone that has almost no "value" on the used market (except to those in the know). My buy out price? A whopping $30.11 after tax.

All in, I'm at $7 x 18 = $126 plus whatever tax I paid at the beginning of the lease. With the $30 I paid to buy the device, I'm at right around $200. I could easily sell it for that today, although I have no intention to as I love the phone and nothing out there matches what I want at the moment. Needless to say, I'm happy.

Next step is to have the phone sim unlocked so I can start shopping for a lower-cost MVNO plan.

 

[dishdude]

Not a bad deal at all.

I still can't wrap my head around payments, trade ins and leases on phones. In this scenario, it certainly worked to your advantage.

 

[Donald]

Originally Posted by 14Accent
I leased my Essential PH-1 from Sprint in December of '17 on an 18 month term due to the amazing deal they had at the time: $29.17 a month with 18 $23.17/mo bill credits. This is for a phone that retailed at $750.

At the end of the lease, Sprint allows you to buy out the lease for the "fair market value" of the device, which of course they calculate. Luckily for me, I have an extremely obscure phone that has almost no "value" on the used market (except to those in the know). My buy out price? A whopping $30.11 after tax.

All in, I'm at $7 x 18 = $126 plus whatever tax I paid at the beginning of the lease. With the $30 I paid to buy the device, I'm at right around $200. I could easily sell it for that today, although I have no intention to as I love the phone and nothing out there matches what I want at the moment. Needless to say, I'm happy.

Next step is to have the phone sim unlocked so I can start shopping for a lower-cost MVNO plan.


Once paid for they should unlock.

I like ConsumerCellular, they have flexible plans. Am now on Google Fi, but if I got rid of Google Fi I would go back to them.

When you are old ConsumerCellular has BIG BUTTON phones.

 

[henni]

A Mint condition sells for 169 today on Swappa

https://swappa.com/mobile/buy/essential-ph-1/sprint

 

[14Accent]

Originally Posted by henni
A Mint condition sells for 169 today on Swappa

https://swappa.com/mobile/buy/essential-ph-1/sprint


Those are Sprint locked. Mine will be considered unlocked, and no Essential came with any carrier branding of any kind so there's no difference. Mine is also white, they usually goes for more than black. Either way, I'll be holding on to mine. I've never enjoyed having a phone as much as this one.

 

[henni]

Originally Posted by 14Accent
Originally Posted by henni
A Mint condition sells for 169 today on Swappa

https://swappa.com/mobile/buy/essential-ph-1/sprint


Those are Sprint locked. Mine will be considered unlocked, and no Essential came with any carrier branding of any kind so there's no difference. Mine is also white, they usually goes for more than black. Either way, I'll be holding on to mine. I've never enjoyed having a phone as much as this one.


The phone listed today is in fact an Unlocked

 

[Brybo86]

I just bought an essential on Sprint for $125 off ebay and I absolutely love it.

 

[Imp4]

Phones are nearly free for those that are fiscally savvy.
Nice job.

 

[14Accent]

Originally Posted by Brybo86
I just bought an essential on Sprint for $125 off ebay and I absolutely love it.


Glad to hear someone else likes the phone! There's such a small following, I've yet to see another in the wild.